With a bullish breakout, the XRP consolidation phase may end soon.

Ripple (XRP), which is ranked sixth by market cap on CoinMarketCap’s list of the biggest cryptocurrencies, has seen a small drop in price in the last 24 hours, according to a crypto market tracker.

At the time of writing, the price of XRP was around $0.4127, which was 3.92 percent lower than it was 24 hours earlier. Ripple’s weekly performance has also been bad, as its price has dropped 4.45% over the last week.

XRP has also lost value compared to Bitcoin (BTC) and Ethereum (ETH) (ETH). Right now, one XRP is worth 0.00001404 BTC and 0.0002092 ETH. This means that XRP has lost 1.29 percent of its value compared to Bitcoin and 1.63 percent of its value compared to Ethereum.

4-hour chart of XRP/USDT, RSI looks like it will cross RSI SMA (Source: TradingView)

Ripple is worth about $19.8 billion in the market. This puts it above Binance USD (BUSD), which has a market cap of $18.5 billion, and below Binance Coin (BNB), which has a market cap of $49.6 billion.

When you look at the 4-hour chart for XRP/USDT, the RSI looks like it will cross above the RSI SMA line. This is a sign that the price might go up. But the price seems to be in a phase of staying the same. Depending on what the price of XRP does, a breakout from the consolidation phase could happen in the next 8 to 16 hours.

If the price of XRP can break past the 8 and 20 EMA, which have been acting as resistance levels for the last few days, it shows that a bullish move is likely to happen.

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